VWMA-SMA Map
April 20, 2020, 11:31 AM
Indicators
1 Comment
Attached is an interesting indicator since it is directly in the background of the graph with its colors. It is a question of informing at a glance the crossing of two averages the VWMA and the SMA, which makes it possible to inform a weakening of the current trend before seeing it in the courses. ps: the VWMA is already published in the library
// VWMA
tempValue = 0.0
tempVolume = 0.0
for step = 0 to length do
tempValue = tempValue + (close[step] * volume[step])
tempVolume = tempVolume + volume[step]
next
vwma = tempValue / tempVolume
sma = average[20](close)
IF vwma > sma THEN
backgroundcolor(204,255,204)
else
backgroundcolor(255,204,204)
endif
IF vwma[1]<sma[1] and vwma>sma THEN
drawarrowup(barindex,low-(low/12))coloured(0,255,0)
elsif vwma[1]>sma[1] and vwma<sma THEN
drawarrowdown(barindex,high+(high/12)) coloured (255,0,0)
endif
RETURN
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Filename:
VWMA-SMA-map.itf
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